Building Details

Building Size 1,672 SF

Year Built 1945

Stories 1

Listing Agency: Keller Williams Realty Portland Central

Listed By: Alexander Johnson Show Phone

Source: Evrealestate

Added: Sep 24 Changed: Sep 26 Last Checked: Sep 26 at 2:33PM

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Investment Insights

Based on property information with market context.

Built in 1945, this duplex has baseboard heating with zoned controls and a crawl space. On-street parking is available, and the property is zoned R3.

Key Highlights

• Duplex built in 1945
• Zoned R3
• Baseboard heating with zoned controls

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$21,468

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

5.74%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$429,360 $429.4K

Cap Rate 7%

$306,686 $306.7K

Cap Rate 9%

$238,533 $238.5K

Market Conditions

NOI Build-Up for 1,672 SF Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent. EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs. OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements. NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.

Gross rent

$41.1K $24.60/SF

− Vacancy

−$2.1K −$1.25/SF

EGI

$39.0K $23.35/SF

− OpEx

−$17.6K −$10.51/SF

NOI

$21.5K $12.84/SF

Area

Yamhill County, OR

Vacancy

5.10%

Lease Rate

$24.60 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$429,360

Cap Rate 7%

$306,686

Cap Rate 9%

$238,533

Alternative Uses

Best Use

Apartment 5plus

$306.7K

$268.4K – $357.8K (±1% cap)

NOI $21,468 @ 7.0% cap · market cap 5.74%

Second Best

Multifamily LT 5

$263.1K

$230.3K – $307.0K (±1% cap)

NOI $18,420 @ 7.0% cap · market cap 4.93%

Theoretical Best

Office A

$451.3K

$394.9K – $526.5K (±1% cap)

NOI $31,592 @ 7.0% cap · market cap 8.45%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Parking Lot & Garage Bakery HVAC Service Dental Office Pharmacy

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

224

Businesses Nearby

Explore this area Business Placement

Demographics for 97378, OR

9,195

Population

2,891

Households

3.2

Avg Household Size

41

Median Age

15%

College-Educated

88%

High-School Grad

116.7 sq mi

ZIP Area

79

Density / Sq Mi

$80,680

Median Household Income

$37,009

Median Earnings

$1,078

Median Rent

$341,200

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Duplex - The property is zoned R3 and features baseboard heating with zoned controls.

Where is this duplex located?

The property is located at 370 NW YAMHILL ST Sheridan, OR.

What is the asking price?

The asking price for this property is $374,000.

What are key features of this property?

This property features: Duplex built in 1945; Zoned R3; Baseboard heating with zoned controls